Rising Inflation + Falling Industrial Production Worries Investors

Worried Street InvestorInflation, as measured by the Wholesale Price Index, rose to 11.89% for the week ending Jun 28 vs. 11.63% last week and 4.42% a year ago. Component wise, primary articles were up 10.8%; manufactured products were up 10.6%, fuel price index was up 16.3%. Like the past, the price index of iron-ore is up +46%, basic metals +22%, manufactured food products +16.7%, chemicals +9.5% and textiles +5.8%, and the continued uptrend in industrial fuels. (more…)

Infosys Technologies results Below Expectations – Cracks Indian IT

Infosys Technologies well known for building luxury IT campuses on land acquired at cheap prices from various Governments, today reported results for Q1FY09, which are below expectations. Infosys and other Indian IT companies which are mainly dependent on outsourcing were dumped on the bourses in afternoon trading. Infosys led the massive sell off in IT stocks with loss of 7.11%.

Infosys reported revenues of $1155m (1.1% qoq), below Street expectations. Margins declined ~210 bps, in line with expectations. (more…)

Financial Modelling – BSE Training Institute

An Exclusive Computer Based Interactive Training Programme for 2 days on July 25th and 26th in Mumbai.

Target Audience: Managers and Executives working with Banks, Financial Services, AMC, Hedge Funds, Mutual Funds, Investment Banking, Brokerage Houses, Financial Market Intermediaries, Research Analyst, Portfolio Managers, Risk Managers, Accountants, Project Managers, Managers and Executives in the finance department of manufacturing firms & IT firms. The programme is particularly focused at managers who wish to have an insight for using spreadsheets.

Programme Contents:

  • Understanding Excel
  • Spreadsheets for Designing Financial Loans and Repayment Schedule
  • Financial Modelling for Project Appraisal
  • Forecasting Techniques
  • Use of Spreadsheets in Quantitative Techniques
  • Use of solver in spreadsheets computing

Fees: Rs. 12000/- Plus 12.36% Service Tax (Includes tuition fees, study material, refreshments, lunch and participation certificate)

Contact:
E-mail: training@bseindia.com
Phone: 022-22721126 / 27,022-22721233 / 34,
Ext: 8813, 8246, 8464, 8175, 8303

Strength in Steel amidst Macro Induced Weakness

India MetalsThe weaker steel demand story is a lot less relevant than the Chinese governments resolve to control steel prices. News of some auto producers in the US not accepting the midyear surcharges has renewed fears on steel demand. Domestic price increases may only be possible from April 09 and the demand may not taper significantly in the near term.

Using a higher equity risk premium and a higher risk-free rate, make changes to EBITDA used for valuation from FY10E to rolling four quarters. (more…)

Colors – from Viacom18 commences on 21 July

GEC ViacomColors, the new GEC (General Entertainment Channel) from Viacom 18 (50:50 JV between IBN18 and Viacom, not listed), is commencing from 21 July.This channel is expected to have four hours of original programming in the first leg and like other channels sources programmes from various local production houses.

With this launch the GEC space that commands a Rs 4,500 crore of annual ad revenues would now have 11 serious competitors (Ex Music, movie channels). Apart from this, near-term competition is set to increase with the introduction of a host of new programmes by incumbents. With near-term competition increasing, expect TRPs to remain volatile, leading to a range bound performance for the GEC stocks.

Pharma CRAMS Research in India

Indian Pharma companies are now moving up the value chain with the ultimate goal to become global R&D hubs in-line with the Governmnet’s vision to make India a Global Knowledge Center. Leading Pharmaceutical Companies in CRAMs (Contract Research and Manufacturing Services) segment – Biocon, Dishman Pharmaceuticals, Jubilant Organosys and Piramal Healthcare. (more…)